Credo Technology gains after Q2 profit, revenue top estimates

Credo Technology Holding

02/12/2025 10:20

** Shares of cable maker Credo Technology Group CRDO.O jump 17.3% to $200.74 premarket

** Co posts Q2 adj. EPS of 67 cents, beating analysts' estimates of 48 cents, according to data compiled by LSEG

** Q2 revenue of $268 mln also beats estimates of $234.8 mln

** Co-CEO Bill Brennan says results reflect the continued build-out of AI training and inference clusters

** Brokerage TD Cowen says co's momentum on the Active Electrical Cable (AEC) category shows no signs of competitive pressures, and sees near-term strengthening of demand for the same

** Brokerage raises PT on stock to $240 from $190, highest on Wall Street

** 15 of 16 brokerages rate the stock "buy" or higher, one "hold"; their median PT is $167.5 - LSEG

** Up to last close, stock's value has more than doubled in 2025

 (Reporting by Avinash P in Bengaluru)

 ((Avinash.P@thomsonreuters.com;))